Sharp Corporation Ltd v Viterra BV (previously known as Glencore Agriculture BV) [2023] EWCA Civ 7 - Court of Appeal (Lord Justice Asplin, Lord Justice Popplewell and Lord Justice Phillips) - 11 January 2023

Sale of goods - Measure of loss - Valuation of goods - Valuation date - Nature of contract - Contract of sale on c&f terms had following addenda become a contract akin to sale ex warehouse - GAFTA default clause - GAFTA 24 - Arbitration Act 1996, section 69 - Sale of Goods Act 1979, section 50(3)

By two contracts dated 20 January 2017 Glencore agreed to sell to Sharp 20,000 mt of Canadian crimson lentils at US$600 per mt c&f free out Mundra and 45,000 mt of Canadian yellow peas at US$339 per mt c&f free out Mundra. The term "free out" connoted that the entire costs of discharge were to be borne by Sharp (as opposed to the usual form of c&f contract under which costs of discharge from hold to the ship's rail are borne by the seller). Demurrage was to be for Sharp's account.